Commerce Funds September 2016 Dividend Income Distributions

Please note that this information does not constitute tax advice and, as such, shareholders should consult their tax advisors regarding the tax consequences of their investment activities. In addition, these distribution amounts represent past portfolio results and do not indicate future performance.

For income distribution information on Commerce Funds that distribute income monthly, please call us at 1-800-995-6365.

IRS Circular 230 disclosure: Commerce Bank does not provide legal, tax or accounting advice. Any statement contained in this communication concerning U.S. tax matters was not intended or written to be used, and cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code, and was written to support the promotion or marketing of the transaction(s) or matter(s) addressed. Clients of Commerce Bank should obtain their own independent tax advice based on their particular circumstances.

Footnotes:
The MidCap Growth Fund may invest in stocks of smaller companies. Stocks of smaller companies are often more volatile and present greater risks than stocks of larger companies. At times the Fund may be unable to sell the securities it holds without a substantial drop in its price, if at all.

The Short-Term Government Fund's net asset value and yield are not guaranteed by the U.S. Government or by its agencies, instrumentalities or sponsored enterprises.

The tax-free funds' investments may subject shareholders to federal alternative minimum tax. Income from the National Tax-Free Intermediate Bond Fund may be subject to state income tax. Commerce Investment Advisors, Inc., a subsidiary of Commerce Bank, and serves as investment advisor to The Commerce Funds and receives a fee for its services. Goldman, Sachs & Co. is the distributor of The Commerce Funds.

A prospectus for the Commerce Funds containing more complete information may be obtained by calling 1-800-995-6365 or by downloading it from this website. Please consider a Fund's objectives, risks, and charges and expenses, and read the prospectus carefully before investing. The prospectus contains this and other information about the Fund.

The mutual funds referred to in this Web site are offered and sold only to persons residing in the United States and are offered by prospectus only. The prospectus contains more complete information about the funds, including charges and expenses, and should be read carefully before investing.